New York Times to raise price next month

NEW YORK (Reuters) - The New York Times Co. said on Wednesday it plans to raise the cover price and home delivery price of its flagship paper in July.

The increases in cover and subscription prices will generate an additional $7 million to $8 million this year and about $14 million to $16 million on an annual basis, New York Times Chief Executive Janet Robinson told investors at a Newspaper Association of America conference in New York.

Robinson did not provide further details on the price increases.